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August 2018 Archives

When should you consider modifying your estate plan?

It's never wise to wait until you're on your deathbed to create your estate plan — or even until you're in your retirement years. None of us knows what the future will bring. It's wise to put an estate plan in place — at least a will once you've accumulated some assets. However, it's also essential to keep it updated as major life changes occur.

Telling people about your divorce: Prepare an 'elevator speech'

Telling people about your divorce isn't going to be a "one and done" event, even if you post a Facebook message (on your own or together with your spouse). You'll be telling friends, neighbors, colleagues, people at your kids' schools and others in your business and social spheres for weeks and months to come.

Estate planning for parents of children struggling with addiction

People put off their estate planning for many reasons. One of them is that they have an adult child who is an addict or alcoholic. They want to leave them the same amount of money and other assets as their other children, but they fear that their child would spend the money carelessly or -- worse - - use it to feed a dangerous habit. However, they don't want to disinherit them.

Estate planning can help new parents consider the future

You may have planned for the birth of your child for some time. The excitement of expecting to bring a new life into the world likely had you considering every aspect of his or her future and what your child would be like. This preparation undoubtedly helped you get ready for the baby's arrival, and while your nerves were likely not put completely at ease, you may have felt more confident that you were ready to welcome your child into a loving home.

Back-to-school advice for separated and divorced parents

Is this your family's first fall since you and your spouse broke up? Maybe you've been separated or divorced for a time, but one or more of your kids is moving up to middle school or high school this year. Either way, this time of year brings challenges for co-parents who are no longer together and for their children. However, with some planning and cooperation, you can make things easier -- particularly for your kids.

What is 'indirect' parenting time interference?

We've discussed the problem of people who refuse to allow their co-parent to have the visitation with their child that a court has granted them. This is considered direct interference in parenting time. Of course, the parent whose visitation rights are being denied can take action in court.

Prepare for the added expenses of raising kids in two homes

If you and your spouse will be co-parenting your children in two different households after your divorce (as most divorced co-parents do), you need to be prepared for added expenses. That's true whether you're sharing custody 50/50 or one of you will have primary custody and the other has visitation rights. These expenses should be detailed in your child support agreement to prevent conflict and confusion.

Study: Some couples blame student loan debt for their divorce

More and more couples are going into marriage with a significant amount of student loan debt, which can take decades to repay. It can impact all areas of life — including marriage. Some couples don't feel they're in a financial position to buy a home or have children while they're still paying off their student loans.

Protecting your privacy during divorce is harder than ever

You and your spouse have separated. You're considering whether to get a divorce, or perhaps you've already begun the process. You may have been living essentially separate lives for some time and may now be living apart. However, your electronic footprints may still be intertwined.

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